re: Ann: UCL:1.Takeover bid for Minemakers 2.... don't recon this offer will be attractive to anyone, it's only at a very small premium for mak share price over the last couple of days. it is at a huge discount to 30 and 90 day vwaps. it is a stupid and a big waste of $$.
compared to mak first offer on ucl which imo was an attempt to be attractive, might have been opportunistic, but not stupid and insulting and a complete waste of time and $$$.
which was:
-58.7% premium to UCL’s last closing price of A$0.190 per share on 10 February 2012
-61.6% premium to the 1-month VWAP of UCL Shares up to and including 10 February 2012
-51.5% premium to the 3-month VWAP of UCL Shares up to and including 10 February 2012
i was looking at ucl management in a different light this morning that has changed. can accept opportunistic but not stupid. will not be holding mak or ucl over the long term.
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